Tax Time 2012 deadline looms

As the first major lodgment deadline of Tax Time 2012 (31 October 2012) looms overhead, The Tax Institute is pleased to see there have been relatively few concerns arising during Tax Time 2012 so far.

The main issues which have arisen have concerned issues such as identity fraud (which both the profession and ATO continue to combat), rather than the types of issues which arose in Tax Time 2011 (such as delayed refunds for taxpayers).

We hope that the smooth running of Tax Time 2012 so far bodes well for the next few months over which many tax agents will remain busily assisting their clients to comply with their tax obligations and lodge their tax returns. In this regard, we hope members are too finding Tax Time 2012 to be a much better tax return season than the previous year.

Of course, Members experiencing issues during Tax Time 2012 should contact us at Tax Policy to report their concerns.

Lodgment Program Differentiation Framework

Also, we thought this might be a good time to remind members about the new Lodgment Program Differentiation Framework that will start from 1 July 2013. We have published information in previous TaxVine newsletters about the Framework and will continue to keep members informed as more information is made available by the ATO. Information about the new Framework can be found on the ATO website.

We strongly recommend Members familiarise themselves with the new Framework so that they can be prepared for when it starts next year. Members with any concerns regarding the Framework should contact us at Tax Policy.

Stephanie Caredes CTA is Tax Counsel at The Tax Institute.

The Tax Institute is Australia’s leading professional association in tax. Its 13,000 members include tax agents, accountants and lawyers as well as tax practitioners in corporations, government and academia.

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